- Maples Finance expands use of Linedata's MFACT product for fund accounting and administration
Linedata Services, a global leader in the financial technology market, announced today that Maples Finance, a leading offshore financial services firm that provides fund accounting and administration services to a wide range of investment funds, has expanded its relationship with Linedata Services. An MFACT user since 2005, Maples Finance has contracted both the MSHARE and MPARTNER systems as well as expanded its existing MFACT contract, and is now live on the new systems.
MFACT is a highly flexible fund accounting and administration system, and is used by hundreds of mutual funds, hedge funds, and trusts worldwide. MSHARE is a completely scaleable transfer agency and shareholder record keeping system that supports both retail and institutional investment funds, and MPARTNER provides specific functionality for partnership accounting and tax reporting.
"With MFACT, MSHARE and MPARTNER, we are able to support all fund structures and the complex securities typically traded by our hedge fund clients." said Scott Somerville, Global Head of Investment Funds for Maples Finance. "Another factor in our decision was MSHARE's capabilities with respect to performance fee equalization."
Speaking about Maples Finance's decision to expand its use of Linedata, Mary Pizzichino, a Director of Sales and Marketing for Linedata Services, comments, "We are thrilled that we are able to provide Maples Finance, one of the most prestigious offshore financial services firms, with a full offering of products which include fund, partnership and shareholder accounting solutions. We look forward to continue providing Maples Finance with the superior service for which Linedata is known throughout the financial services industry."